The Greeks voted to stay in the Eurozone, or so the politicians say who won. So they voted for austerity. So the world avoids financial Armageddon once again! Actually, the feel of the markets from my perspective is of "much ado about nothing". The markets feel today like they are done with that little problem for awhile and now are looking for the next problem. If the Greece thing ended like this, with so little fanfare, why won't the markets go up from here. It just feels like we may be in for another stealth rally in the next couple months. The sentiment seemed to be that deflation was a certainty. But markets held up very well considering our close call with "financial armageddon" again. (Said with tongue firmly in cheek)
If a market holds up in the face of lots of bearish sentiment it is a bullish indicator. I may be rethinking my feelings about the value of the long bond market as an indicator of the future.....
Short bonds here?? A little.